a) Assuming an imputation tax system, show the values for A, B, C and D below. Show all workings and attach a minus sign ('-') to the value if it is a cash outflow. (4 marks) Marginal tax rate 45% 19% Corporate level Net Profit Before Tax Corporate tax (30%) $3 $3 -$0.90 -$0.90 Net Profit After Tax $2.10 $2.10 Shareholder level Cash dividends $2.10 $2.10 Gross-up adjustment Grossed-up dividends A Personal Tax Franking credit A Tax payable or refund B Dividend after taxes D